Kronos Launches Workforce HRMS; Propels Kronos Deeper Into the Mid-market as a Single-Source Provider of Integrated HR, Payroll and Labor Management Solutions.
CHELMSFORD, Mass.--(BUSINESS WIRE)--June 24, 2002
Building on 25 years of leadership in the labor management industry, Kronos(R) Incorporated (Nasdaq: KRON) today marked its formal entree into the Human Resources Management System (HRMS) market by unveiling Workforce HRMS(TM), an integrated, Web-native HRMS solution that helps organizations align their people, processes and technology to improve individual productivity and business performance. Workforce HRMS is designed to empower organizations whose most critical assets are people and the knowledge they possess.
According to Jim Kizielewicz, Kronos' vice president of marketing and corporate strategy, certain Kronos customers have voiced a desire for a single vendor who can align the people, processes and technology required for a successful and affordable implementation. "Purchasing HR, payroll and labor management applications from a single vendor can alleviate tighter budget and resource constraints," stated Kizielewicz. "We listen to our customers, and are not only acting as a single source provider, but more importantly, as a long-standing vendor they can count on in the future. We anticipate that both existing customers and prospects will find considerable value in our 100 percent Web-native solution."
"We promised to deliver our HRMS solution in June, and are pleased to announce that we're on schedule," commented Mark S. Ain, Kronos' chief executive officer. "Our entire company is energized about our entrance into the HRMS market - a strategic move which represents an extension of our core strengths."
Workforce HRMS is comprised of Workforce HR(TM) and Workforce Payroll(TM) applications, which are the newest members of Kronos' industry leading Workforce Central(R) suite. By expanding Workforce Central with the release of Workforce HRMS, Kronos now offers tools to: streamline the management of the employment life-cycle via Web-based self-service; reduce administrative overhead by delivering content through a central portal; and empower managers with real-time analysis for faster decision-making.
Workforce HRMS delivers a complete infrastructure to help organizations optimize their workforce and enable communication and collaboration across the enterprise. The solution delivers employee and manager self-service functionality, enabling users to view and update human resources and payroll information pertaining to themselves or their employees. Workforce HRMS includes the following integrated applications:
-- Workforce HR empowers companies to support their strategic business objectives by streamlining critical human resources processes including benefits administration, personnel tracking, training tracking, health and safety, position management, organizational management, attendance tracking and point-in-time reporting.
-- Workforce Payroll offers cost-effective, complete control of payroll processing. Workforce Payroll helps companies manage all of the complex information required to administer and complete payment of wages and other compensation. In addition to payroll processing, the application simplifies earnings and deduction management, federal, state and local tax calculations and filing, check reconciliation, exception processing and reporting.
Kronos' labor management solutions give organizations the tools they need to plan, track and analyze labor data and transform that data into information that can improve workforce productivity and decrease labor expenses. Kronos' labor management solutions are used by approximately 40,000 organizations worldwide. Labor management applications within Workforce Central include:
-- Workforce Smart Scheduler(TM) forecasts business volume and workload requirements and creates detailed employee schedules.
-- Workforce Accruals(TM) provides real-time management of employee benefit time such as personal, vacation, compensatory, medical and other forms of leave.
-- Workforce Timekeeper(TM) is a time and attendance application that includes the industry's most robust and user-definable rules engine for applying uniform pay policies across the enterprise.
-- Workforce Decisions(TM) is a labor analytics application that provides timely, relevant and actionable information as well as tools to make proactive, informed labor resource decisions.
-- Workforce Professional(TM) enables employees to record time, attendance and project information through the Web, and provides managers access to employee information for review and sign-off prior to payroll submission.
"Our value proposition is stronger than ever," concluded Ain. "We offer a safe investment in a reliable partner with proven technology, functionally strong applications, a proven track record and a long list of satisfied customers."
Workforce HRMS is immediately available. Kronos is publicly demonstrating Workforce HRMS for the first time at the Society for Human Resource Management (SHRM) tradeshow, being held June 23-26 in Philadelphia, booth #2901. For more information on Workforce HRMS, call (800) 225-1561 or visit www.kronos.com/hrms.
About Kronos Incorporated
Kronos Incorporated is a single-source provider of integrated human resources, payroll and labor management solutions. Kronos products and services help organizations align their people, processes and technology to improve individual productivity and boost overall business performance.
Capitalizing on deep-rooted expertise honed over 25 years, Kronos empowers more than 40,000 organizations worldwide to better manage their workforce. Learn more at www.kronos.com.
(c) 2002 Kronos Incorporated. Kronos, Workforce Central and the Kronos logo are registered trademarks and Workforce HRMS, Workforce HR, Workforce Payroll, Workforce Smart Scheduler, Workforce Accruals, Workforce Timekeeper, Workforce Decisions and Workforce Professional are trademarks of Kronos Incorporated. All other product and company names mentioned are used for identification purposes only and may be trademarks of their respective owners.